The jackpot for the Powerball draw on Mon Aug 24, 2026, is projected to be $81 Million, with an option for a cash payout of $34.8 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New York residents, the state will deduct 8.82% from your lottery earnings.
| New York Powerball Jackpot/Cash Option for Mon Aug 24, 2026 |
|---|
| Draw Date | Mon Aug 24, 2026 | | Projected Jackpot | $81,000,000 | | Cash Value | $34,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $34,800,000 | | Federal Tax(24%) | $8,352,000 | | Additional Federal Tax | $4,484,330 | | State Tax(8.82%) | $3,069,360 | | Net Lumpsum Payment | $18,894,310 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,219,131 |
$411,409
$107,527 |
$700,195 |
| 2 |
$1,280,124 |
$433,976
$112,907 |
$733,241 |
| 3 |
$1,344,114 |
$457,653
$118,551 |
$767,910 |
| 4 |
$1,411,344 |
$482,528
$124,481 |
$804,335 |
| 5 |
$1,481,895 |
$508,632
$130,703 |
$842,560 |
| 6 |
$1,556,010 |
$536,054
$137,240 |
$882,716 |
| 7 |
$1,633,770 |
$564,825
$144,099 |
$924,846 |
| 8 |
$1,715,499 |
$595,065
$151,307 |
$969,127 |
| 9 |
$1,801,278 |
$626,803
$158,873 |
$1,015,602 |
| 10 |
$1,891,350 |
$660,130
$166,817 |
$1,064,403 |
| 11 |
$1,985,877 |
$695,105
$175,154 |
$1,115,618 |
| 12 |
$2,085,183 |
$731,848
$183,913 |
$1,169,422 |
| 13 |
$2,189,430 |
$770,419
$193,108 |
$1,225,903 |
| 14 |
$2,298,942 |
$810,939
$202,767 |
$1,285,236 |
| 15 |
$2,413,881 |
$853,466
$212,904 |
$1,347,511 |
| 16 |
$2,534,571 |
$898,122
$223,549 |
$1,412,900 |
| 17 |
$2,661,255 |
$944,995
$234,723 |
$1,481,537 |
| 18 |
$2,794,338 |
$994,235
$246,461 |
$1,553,642 |
| 19 |
$2,934,063 |
$1,045,934
$258,784 |
$1,629,345 |
| 20 |
$3,080,754 |
$1,100,209
$271,723 |
$1,708,822 |
| 21 |
$3,234,816 |
$1,157,212
$285,311 |
$1,792,293 |
| 22 |
$3,396,573 |
$1,217,062
$299,578 |
$1,879,933 |
| 23 |
$3,566,349 |
$1,279,880
$314,552 |
$1,971,917 |
| 24 |
$3,744,711 |
$1,345,873
$330,284 |
$2,068,554 |
| 25 |
$3,931,902 |
$1,415,134
$346,794 |
$2,169,974 |
| 26 |
$4,128,570 |
$1,487,901
$364,140 |
$2,276,529 |
| 27 |
$4,334,958 |
$1,564,265
$382,343 |
$2,388,350 |
| 28 |
$4,551,714 |
$1,644,465
$401,461 |
$2,505,788 |
| 29 |
$4,779,324 |
$1,728,680
$421,536 |
$2,629,108 |
| 30 |
$5,018,274 |
$1,817,092
$442,612 |
$2,758,570 |
|
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